Huge losses and cyber attack brought down modular construction firm

Caledonian Modular, the Newark-based offsite construction firm which fell into administration in March, has racked up losses of almost £25m over the last two years, according to documents seen by

Meanwhile, unsecured creditors of Caledonian are unlikely to see any of the cash owed to them – a total of £20.7m

An administrators report says the firm filed a notice of intention to appoint administrators following pressure from creditor and uncertainty about securing funding to continue trading.

This was exacerbated by a cyber attack on Caledonian on February 24, which infected its servers and encrypted its data, reducing its ability to trade and leaving the firm facing a costly fix job.

Some 200 jobs were saved at Caledonian after administrators from Alvarez & Marsal sold the firm to JRL Group at the beginning of April for just £6.25m.

Click here to sign up to receive our new South West business news...